So, there deal on CMG. There's definitely blood in the streets (which means, this could be a nice buying opportunity for the long term. However, as most of you know, I'm 100% a MOES guy. {A private company} I don't really like CMG. That being said, my guess is CMG gaps down on earnings and ta lot of people try to short it, CMG fades to trap all of the shorts and then it eventually retests this old support, new resistance and rolls over. $370 puts for Dec. I was looking at on Tuesday (would have filled yesterday) I think we will get another shot. IF CMG gaps up on earnings, but doesn't clear above $400, look for THAT gap to fill and be slightly bearish.
NEWS is awful on CMG. But - that's doesn't mean it can't rally from these lows.. Going to be interesting to watch, but this is a VERY KEY long term support....
AND - CMG did already hit and roll over from my 2017 target anyway. ;-)
NEWS is awful on CMG. But - that's doesn't mean it can't rally from these lows.. Going to be interesting to watch, but this is a VERY KEY long term support....
AND - CMG did already hit and roll over from my 2017 target anyway. ;-)
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